Strategy

Hinduja Looks for India Wealth Management Growth

Nick Parmee 16 April 2009

Hinduja Looks for India Wealth Management Growth

Swiss-based Hinduja Bank, part of the Hinduja Group, is seeing a resurgence of investor interest in India and plans to launch new funds soon, the chief executive has told Financial Chronicle.

Ivan Schouker said: “We may be sounding against established thinking, but we see a lot of opportunities in wealth management where investors are looking for secure, non-government owned financial institutions, quality financial advice and long-term commitment. Our natural position as a bridge between growth economies and mature markets offers significant development prospects."

“We would also be looking at both organic and inorganic opportunities in our core markets of India, the west Asia, as well as countries where strong non-resident Indian communities show outstanding business leadership such as in southern and eastern Africa," he said.

“Investors have become increasingly weary and sophisticated, and rightly so. They are looking for niche private banks that focus on client needs and are not seen as product pushers. The focus is more on return of capital than return on capital," Mr Schouker added.

Register for WealthBriefing today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes